Guideline Value for Rajangam Mathya Veedhi

Rajangam Mathya Veedhi guideline value

The current guideline value of Rajangam Mathya Veedhi is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Saligramam village, under the Virugambakkam SRO, and is classified as Residential Class III Type - II.

How the guideline value of Rajangam Mathya Veedhi has changed

The guideline value for Rajangam Mathya Veedhi has seen several revisions over the years. The earliest recorded figure is from 2002, with a guideline value of Rs 358 per sq.ft. This increased to Rs 391 per sq.ft in 2003, marking a change of +9%. The value continued to rise, reaching Rs 550 per sq.ft in 2007, which was a significant increase of +41%. By 2012, the value had risen to Rs 2,500 per sq.ft, reflecting a substantial jump of +355%. However, it then decreased to Rs 1,675 per sq.ft in 2017, a decline of -33%.

From 2017 to 2023, the guideline value increased to Rs 2,500 per sq.ft, showing a rise of +49%. The most recent revision in 2024 has set the guideline value at Rs 2,750 per sq.ft, which is a +10% increase from the previous year. There are no figures available for the years not listed in the register for this street.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, placing Rajangam Mathya Veedhi's 2024 figure below that median.

• Rajammal Street: Rs 3,850 per sq.ft (2024)
• Rajalakshmi Avenue: Rs 4,950 per sq.ft (2024)
• Rajendra Colony: Rs 4,950 per sq.ft (2024)
• Rajeswari Street: Rs 4,400 per sq.ft (2024)
• P.V. Rajamannar Salai: Rs 7,140 per sq.ft (2024)
• Puviyathamman Koil Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Rajangam Mathya Veedhi

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, making the total cost for these fees Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed fee estimations.

Which Sub Registrar Office covers Rajangam Mathya Veedhi?

Rajangam Mathya Veedhi falls under the jurisdiction of the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. For more information, you can find your SRO.

How the guideline value is used when you buy or sell in Saligramam

The guideline value is a critical factor in property transactions, as it determines the minimum value at which properties can be registered. When buying or selling a property in Saligramam, the guideline value will influence the stamp duty and registration fees payable at the time of registration.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with local regulations and to accurately calculate the associated costs during the transaction process.

Frequently asked questions

What is the current guideline value of Rajangam Mathya Veedhi?

The current guideline value of Rajangam Mathya Veedhi is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 358 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of +668% over this period.

What is the stamp duty rate for properties in Rajangam Mathya Veedhi?

The stamp duty rate for properties in Rajangam Mathya Veedhi is 7% of the guideline value or the sale price, whichever is higher.

Where is the Virugambakkam Sub Registrar Office located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum value for property registration, which in turn affects the stamp duty and registration fees that must be paid during the transaction.